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How would you determine whether an asset is current asset or noncurrent asset?
I am taking a course in Accounting, and I was taught that an asset is current if it will be used up within one year. Long-term assets are those that last over 12 months.
How do you convert noncurrent assets into assets?
since noncurrent assets are fixed assets and current asset are business properties tend to be used within a years period example machinery a business can put their properties on sale example they can rent them out as hire purchasing from them the business gets money
What are the characteristics of Financial asset?
market value, liquidity and volatility
Why it is that an asset is a asset?
There are three characteristics that define an asset, as follows:The entity obtained the asset in a past event/transaction.The entity has present control over the asset.Future economic benefit is expected to flow to the entity as a result of their possession of the asset.
Is bonds payable a noncurrent liability?
no, it is current liability
What is the noncurrent-carrying wiring devices industry?
The noncurrent-carrying wiring devices industry is made up of companies that primarily manufacture hardware used to support electrical systems
Where would the purchase on noncurrent assets be reported in the statement of cash flows?
Purchase of fixed asset is shown under cash flows from investing activities as an outflow of cash because purchase of assets is an investing activity and it causes reduction of cash flow.
What is the rationale behind the different accounting methods for the various investment classifications?
The rationale behind the different accounting methods for the various investment classifications is to identify the asset as either current or noncurrent. However, some investments are classified based on maturities and expectations as to sales and redemptions in the following year.
Is a dividend an asset or liability?
Investments are seen as current assets if the firm intends to sell them within a year. Long-term investments (also called "noncurrent assets") are assets that they intend to hold for more than a year. check link in bio for more information
What is NAICS Code 335932?
NAICS Code 335932 covers Noncurrent-Carrying Wire Device Manufacturing
What did noncurrent-carrying wire device manufacturing earn in 1994?
Industry sales reached nearly $4.0 billion in 1994
What did noncurrent-carrying wire device manufacturing ship in 2001?
The total value of shipments in 2001 reached $5.1 billion
